Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Market
May Housing Starts Climbed 6.8%
WASHINGTON (6/19/13)--Construction of new U.S. homes rose in May, with permits to build single-family homes increasing to a five-year high, the Commerce Department said Tuesday.

Housing starts climbed 6.8% last month to a seasonally adjusted annual rate of 914,000, following an 856,000 pace in April. A 24.9 % surge in multifamily-unit construction is helping to continue the expansion in the housing market (Bloomberg.com, The Wall Street Journal and Moody's Economy.com June 18).

Also, building permits for single-family homes rose 1.3% to a 622,000 pace--the fastest since May 2008.

With improving job prospects and historically low mortgage rates enticing buyers, there will be an ongoing increase in building permits that exceed the level of starts--indicating residential construction will continue to rise, Bloomberg said.

The Commerce Department report is the most recent signal of steady gains in the housing market. The gains are helping to underpin the U.S. economy during a time when other segments of the economy--such as manufacturing and government spending--are in the doldrums, the Journal said.
RSS





print
News Now LiveWire
About 1 in 5 #CUs offer credit-building loans,@SchenkMike @CUNA vice president of economics and statistics, told @CreditCardsCom
3 hours ago
RT @CUNA: DDoS attacks shorter, intense, more expensive: @VERISIGN HT @newsnowlivewire http://t.co/QiQKIEjK5v
3 hours ago
RT @CUNA: .@CUNACouncils launches new website. Offering site tours to current members. Check it out! http://t.co/YFJA1tKIxn
3 hours ago
.@Discover to support #ApplePay by fall http://t.co/3wDjkOVU7P HT @Forbes
5 hours ago
.@HUDgov requires investors to delay foreclosure for a year and offers a non-profit only pool sale http://t.co/WYzQrTL3QA
7 hours ago